California Budget Shortfall Less Than Expected

thinkstock_31617_budget
thinkstock_31617_budget

moodboard/Thinkstock

It looks like California’s budget shortfall isn’t quite 68-billion dollars. That’s the record-breaking number the Legislative Analyst’s Office project last month. But now the Department of Finance is insisting the amount is lower, while admitting there’s still a “significant problem to solve.” Governor Newsom will reveal the new number in his revised budget tomorrow, while Republicans demand he declare a fiscal emergency.